Bloomberg News

S. African Nationalization Call Not Genuine One, Nzimande Says

June 28, 2011

June 28 (Bloomberg) -- A call to nationalize South African mines made by the African National Congress Youth League isn’t a “genuine” one, Blade Nzimande, head of the South African Communist Party, said.

The league, led by Julius Malema, wants the state to buy indebted mining companies owned by black investors, Nzimande said in a speech to labor union officials in Johannesburg today. Some league members are benefiting from state contracts, Nzimande, who is also Minister of Higher Education, said.

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net


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